Aurora Solar nets $50 million in Series B funding round

Aurora Solar Raises $50M to Power the Digital Transformation of the Solar Industry

Aurora Solar raised another $50 million in a Series B funding round, bringing the company’s total investment to over $70 million. This round was led by ICONIQ Capital, with follow-on participation from existing investors Energize Ventures, Fifth Wall, and Pear VC. Using Aurora, solar installers can accurately perform remote solar shading analysis, design solar and storage systems, forecast energy production, calculate bill savings, generate sales proposals with financing options, and much more. The funds will be used to continue hiring across all teams and to ramp up developing new features.

“This fundraise is not only a big milestone for Aurora, but for the solar industry,” said Christopher Hopper, Co-founder of Aurora Solar. “It will allow us to continue to build best-in-class tools for solar professionals in the U.S. and internationally, and help us achieve our mission of creating a future powered by clean solar energy.”

“Aurora has become the preeminent software platform for solar installers, with product functionality and an end-user experience that is far ahead of the competition,” said Doug Pepper, General Partner at ICONIQ Capital. “We’re looking forward to joining the board and supporting Chris, Sam, and the Aurora team on their exceptional growth trajectory to enable the solar industry to scale for a more sustainable future. Aurora Solar joins ICONIQ’s leading vertical software investments including Procore, ServiceTitan and Relativity.”

Aurora Solar is helping the industry transition away from manual processes and in-person visits to conducting everything online. Last month, projects designed in Aurora surpassed 4 million, with the last million designed during stay-at-home orders and in record time—6 months.

“Solar has emerged as one of the key future energy sources, and Aurora is increasingly the go-to solution for solar installers who are looking to affordably deploy solar at scale,” said Samuel Adeyemo, Co-founder of Aurora Solar. “The pandemic has accelerated trends towards remote processes, and we are delighted to have the resources to build all the tools that will help the industry thrive in this new environment.”

— Solar Builder magazine

[source: https://solarbuildermag.com/news/aurora-solar-nets-50-million-in-series-b-funding-round/]